Analyzing fuzzy risk based on a new fuzzy ranking method between generalized fuzzy numbers

In this paper, we present a new method for analyzing fuzzy risk based on a new method for ranking generalized fuzzy numbers. First, we present a new method for ranking generalized fuzzy numbers. It considers the areas on the positive side, the areas on the negative side and the heights of the generalized fuzzy numbers to evaluate ranking scores of the generalized fuzzy numbers. The proposed method can overcome the drawbacks of some existing methods for ranking generalized fuzzy numbers. Then, we apply the proposed method for ranking generalized fuzzy numbers to develop a new method for dealing with fuzzy risk analysis problems. The proposed method provides us with a useful way to deal with fuzzy risk analysis problems based on generalized fuzzy numbers. (C) 2010 Elsevier Ltd. All rights reserved.